14. Life-Cycle Financial Planning (assumes children/marriage) Life-Cycle Phases Financial Planning Areas Young adult (18 – 25) Consumption and savings; career Family formation (26 – 35) Consumption and savings; career; debt; insurance; income taxes Family development (36 – 49) Investment; retirement; income taxes Family maturity (50 – 60) Investment; retirement; estate Retirement (60 – ?) Estate; income taxes